J & J Snack Foods Reports First Quarter Sales and Earnings
21 Gennaio 2010 - 10:00PM
Business Wire
J & J Snack Foods Corp. (NASDAQ:JJSF) today announced record
sales and increased earnings for the first quarter ended December
26, 2009.
Sales increased 6% to $149.1 million from $141.1 million in last
year’s first quarter. Net earnings increased 64% to $7.1 million in
the current quarter from $4.3 million last year. Earnings per
diluted share were $.38 for the first quarter compared to $.23 last
year. Operating income increased 68% to $11.5 million in the
current quarter from $6.8 million in the year ago quarter.
Gerald B. Shreiber, J & J’s President and Chief Executive
Officer, commented, “Lower ingredients and packaging costs, as well
as new product sales and innovation, helped drive our results for
the quarter. All of our business groups contributed to our record
profits.”
J & J Snack Foods Corp.’s principal products include
SUPERPRETZEL, PRETZEL FILLERS and other soft pretzels, ICEE, SLUSH
PUPPIE and ARCTIC BLAST frozen beverages, LUIGI’S, MAMA TISH’S,
SHAPE UPS, MINUTE MAID* and BARQ’S** frozen juice bars and ices,
WHOLE FRUIT sorbet, FRUIT-A-FREEZE frozen fruit bars, MARY B’S
biscuits and dumplings, DADDY RAY’S fig and fruit bars, TIO PEPE’S
churros, THE FUNNEL CAKE FACTORY funnel cakes, and MRS. GOODCOOKIE,
CAMDEN CREEK, COUNTRY HOME and READI-BAKE cookies. J & J has
manufacturing facilities in Pennsauken, Bridgeport and Bellmawr,
New Jersey; Scranton, Hatfield and Chambersburg, Pennsylvania;
Carrollton, Texas; Atlanta, Georgia; Moscow Mills, Missouri;
Pensacola, Florida and Vernon and Newport, California.
*MINUTE MAID is a registered trademark of The Coca-Cola
Company.**BARQ’S is a registered trademark of Barq’s Inc.
Consolidated Statement of Operations
Three Months Ended
December 26, December 27,
2009
2008
(unaudited) (in thousands) Net sales $ 149,102 $ 141,142
Cost of goods sold 103,083 100,460 Gross profit
46,019 40,682 Operating expenses 34,528 33,851
Operating income 11,491 6,831 Other income 283 432
Earnings before income taxes 11,774 7,263 Income taxes 4,683
2,944 Net earnings $ 7,091 $ 4,319 Earnings per
diluted share $ .38 $ .23 Earnings per basic share $ .38 $ .23
Weighted average number of diluted shares 18,717 18,774 Weighted
average number of basic shares 18,544 18,616
Consolidated Balance Sheets
December 26, 2009
September 26, 2009
(unaudited) (in thousands) Cash & cash equivalents $
60,935 $ 60,343 Current marketable securities held to maturity
27,664 38,653 Other current assets 107,176 112,115 Property, plant
& equipment, net 98,698 97,173 Goodwill 60,314 60,314 Other
intangible assets, net 48,001 49,125
Long-term marketable securities
held to maturity
31,039 19,994 Other 1,967 2,110 Total $ 435,794 $
439,827 Current liabilities $ 63,862 $ 67,679 Long-term
obligations under capital leases 261 285 Deferred income taxes
27,033 27,033 Other long-term obligations 1,891 1,986 Stockholders’
equity 342,747 342,844 Total $ 435,794 $ 439,827
The forward-looking statements contained herein are subject to
certain risks and uncertainties that could cause actual results to
differ materially from those projected in the forward-looking
statements. Readers are cautioned not to place undue reliance on
these forward-looking statements, which reflect management’s
analysis only as of the date hereof. The Company undertakes no
obligation to publicly revise or update these forward-looking
statements to reflect events or circumstances that arise after the
date hereof.
Grafico Azioni J and J Snack Foods (NASDAQ:JJSF)
Storico
Da Ago 2024 a Set 2024
Grafico Azioni J and J Snack Foods (NASDAQ:JJSF)
Storico
Da Set 2023 a Set 2024